What does North Korea rely on to support its economy?

North Korea relies on industrial manufacturing and exports to support its economy. In 2010, North Korea announced that it would open the door to becoming a powerful country. At the end of 2012, it took advantage of the successful launch of a satellite to propose that North Korea had consolidated its status as a powerful country in the universe. Shortly after the armistice on the Korean Peninsula in 1953, North Korea began planning for economic reconstruction. According to statistics, in the 10 years after the end of the Korean War, North Korea's average annual economic growth rate was as high as 25%, which was probably the highest in the world at that time.

Foreign Capital

Since the 1980s, North Korea has begun to introduce foreign capital and establish joint ventures. In December 1991, North Korea established a free economic and trade zone in the Rason area close to the borders between China, North Korea and Russia. In 1992, North Korea promulgated the Joint Venture Law. In November 2002, North Korea announced the establishment of the Kaicheng Industrial Zone and Mount Kumgang Tourist Zone, which would be jointly developed by North Korea and South Korea.

In 2008, the North Korea-Russia "Hasan-Rajin" railway and Rajin Port reconstruction project were launched. North Korea's cooperation with Egypt's large cement plants is progressing smoothly, and it has cooperated with Egypt's Oreskom Telecommunications Company to launch third-generation mobile communications services. In June 2011, China and North Korea held a groundbreaking ceremony for the "Two Economic Zones" project, which jointly developed and jointly managed Huangjinping, Weihua Island Economic Zone and Rason Economic and Trade Zone.